The base metals market atmosphere is empty, and it is important to pay attention to whether Shanghai aluminum can hold its position

On Thursday, Lun aluminum opened at 1646 US dollars / ton, Asian market, Shanghai aluminum fell dragged down, before the afternoon Lun aluminum shock downward, low low 1632 US dollars / ton, the afternoon dollar fell sharply, Lun aluminum wide range shock; Entering the European market, crude oil rose, and the center of gravity of London aluminum recovered, and as of 17:00, Lun aluminum recorded 1648 US dollars / ton
.
Lun aluminum struggles on the lower edge of the 5-day moving average, and there is a large
upper resistance.

On the macro front, U.
S.
industrial and consumer confidence data was less than expected, investor confidence was subdued, aluminum prices fell slightly, and support below focused on $
1600.
With the May Day holiday approaching in China, market sentiment has cooled down, and the decline in the stock market has weighed on the commodity market, and Shanghai aluminum has fallen
sharply.

In terms of the market, Shanghai transaction concentration 12530-12550 yuan / ton, discount 10 yuan / ton to flat water, Wuxi transaction concentration 12530-12550 yuan / ton, Hangzhou transaction concentration 12530-12560 yuan / ton, holders are eager to exchange cash, shipment attitude is positive, later with the stabilization of aluminum in the future, the shipment of holders has been controlled, spot prices basically fell back to the spot price level last Friday, middlemen low replenishment active, downstream willingness to receive goods positive, the overall
。

Overall, Shanghai aluminum bulls continued to close their positions sharply during the day, the center of gravity of aluminum prices continued to shift, the low touched 12445 yuan / ton, and the end of the session closed long and short, aluminum prices fluctuated to close at 12485 yuan / ton, down 365 yuan / ton
.
The main force of Shanghai aluminum fell below the 5-day moving average, and the base metal market atmosphere was empty, focusing on whether the main force of Shanghai aluminum could hold the 10-day moving average
.